Kindly tell if anyone have the answer of this issue: In buy back of shares u/s 77A a company may, by Board Resolution buy back its more than 10% of aggregate of paid up equity capital and free reserves but upto 25% of the aggregate of the paid up capital and free reserves then the company is required to pass special resolution. This section further provided that the buy back of equity share in any fianancial year shall not exceed 25% of its paid up equity capital. My question is that if we buy back with Special resolution in second condition, we can not buy back exceeding 25% of paid up equity capital as futher provided by this section. So whats the benefit for second condition. Pls suggest
Posted on: Thu, 18 Jul 2013 18:37:15 +0000
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